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Chunxing Precision Engineering: Planning to transfer 100% equity of Chunxing India
People’s Financial News, April 8 — Chunxing Precision Engineering ( 002547 ) announced on April 8 that the company, through direct and indirect methods, holds a 100% stake in Chunxing Precision Engineering (India) Limited (hereinafter referred to as “India Chunxing”). The company plans to transfer the aforementioned equity to Credicon Asset Management Pvt. Ltd. (referred to as “Credicon”) and simultaneously arrange the repayment of the company’s and its subsidiaries’ claims against India Chunxing. Recently, they signed a “Conditional Terms List” with Credicon.